TAX TUNE UP 006: Monkey Business

Today our host, Ed Lyon, gives us a brief but interesting look at the British territory Gibraltar. At first it seems that he may be advocating moving there to shelter taxes, until he reveals a larger country that most don’t realize is a tax haven, as well.

Key Takeaways:

[:20] In Roman mythology, the hero Hercules uses his divine strength to smash through the mountain that used to be Atlas. In so doing, he created the Rock of Gibraltar.

[:45] Gibraltar has been a key military crossroad throughout history. It is also a natural paradise and home to Europe’s only wild monkeys.

[1:06] Britain seized Gibraltar from Spain in 1704, and a treaty was issued in 1713.

[1:16] Winston Churchill issued an order to keep the population of wild monkeys up during World War II.

[1:43] How does tiny little Gibraltar make a living?

[2:47] Gibraltar is probably not a true tax haven, still its low taxes have made it home to 30,000 people and 30,000 corporations.

[4:08] The citizens of Gibraltar have some unconventional tax collectors — the wild monkeys.

[4:44] The United States is ranked the number three tax haven in the world. So, you don’t need to move offshore to save money on taxes, you just need a plan. Call Financial Gravity to make that plan.